IMI’s 2014 Revenues Up 13%
LAGUNA, PHILIPPINES – Integrated Micro-Electronics Inc. (IMI) reported full-year 2014 revenues up 13% to $844.5 million compared to 2013.
Net income for the electronics manufacturer was $29.1 million, up 177% year-over-year.
“The year 2014 was a banner year for IMI, as we outperformed the EMS industry’s single-digit growth rate and our financial targets. Our global presence and market diversity took advantage of the recovery of the international markets and electronics segments,” said Arthur Tan, IMI president and CEO.
IMI China operations posted $325.6 million revenues, up 17.5% year-over-year, primarily due to volume expansion in the telecommunications segment.
The firm’s Europe and Mexico operations contributed 32% to full-year revenues.
With the sustained expansion of the automotive business in IMI Bulgaria, revenues were up 14.4% to $268.6 million compared to 2013, driven by steady growth of global automotive production.
EMS operations in the Philippines recorded $204.9 million in revenues, up 8.3% year-over -year, bolstered by the expansion of businesses in storage device and automotive electronics.
PSi Technologies, IMI’s subsidiary, posted $44.9 million in revenues, up 4.3% year-over-year, due to increased demand for power semiconductors.
“IMI will continue on a profitable growth track as we continue to grab opportunities for high-value outsourcing in the telecommunications infrastructure, automotive, industrial, and medical electronics markets,” said Tan.
